United Kingdom GDP Annual Growth Rate 1956-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United Kingdom expanded 2.70 percent in the fourth quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in the United Kingdom averaged 2.45 percent from 1956 until 2014, reaching an all time high of 9.80 percent in the first quarter of 1973 and a record low of -5.80 percent in the first quarter of 2009. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics.

      Forecast    
United Kingdom GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
2.70 2.60 9.80 -5.80 1956 - 2014 percent Quarterly
From 1993 to 2007 the United Kingdom has reported an average annual rate of growth of 3.3 percent. Yet, since the recession in 2008 and 2009 the growth has been sluggish and in the last three years averaged meager 0.9 percent. This page provides - United Kingdom GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United Kingdom GDP Annual Growth Rate - was last refreshed on Wednesday, March 4, 2015.


UK GDP Growth Confirmed at 7-Year High


The British economy advanced 2.7 percent year-on-year in the last quarter of 2014, unchanged from the preliminary estimate. It is the highest growth rate since the last three months of 2007, driven by rise in consumption, investment and net trade.

Year-on-year, household consumption accelerated for the fourth straight quarter to 2.2 percent, making the largest contribution to growth (1.4 percent). 

Exports increased 1.3 percent while imports rose at a slower 0.8 percent. As a result, net trade added 0.5 percent to growth, first positive contribution in six quarters.

Government consumption and investment rose 2.2 percent and 2 percent respectively, adding 0.4 percent each to growth. 

On a quarter-on-quarter seasonally adjusted basis, the economy expanded 0.5 percent. Second estimates confirmed the GDP slowed for the second consecutive quarter. 

Considering full 2014, the GDP grew 2.6 percent, the highest gain in seven years.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
2/26/2015 11:18:22 AM


Recent Releases

UK GDP Growth at 7-Year High
British GDP advanced 2.7 percent year-on-year in the last quarter of 2014, up from a 2.6 percent increase in the previous period and the highest since 2007. Published on 2015-01-27

UK GDP Growth Revised Down to 2.6% in Q3
The British economy expanded 2.6 percent year-on-year in the third quarter of 2014, compared with a previous estimate of 3 percent, due to lower business investment and higher imports. Published on 2014-12-23


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-12-23 09:30 AM
GDP Growth Rate YoY Final  Q3
2.6% 2.6% (R) 3.0% 3.0%
2015-01-27 09:30 AM
GDP Growth Rate YoY Prel  Q4
2.7% 2.6% 2.8% 2.91%
2015-02-26 09:30 AM
GDP Growth Rate YoY 2 Est  Q4
2.7% 2.6% 2.7% 2.7%
2015-03-31 09:30 AM
GDP Growth Rate YoY Final  Q4
2.6% 2.7% 2.7%
2015-04-28 09:30 AM
GDP Growth Rate YoY Prel  Q1
2.82%
2015-05-28 09:30 AM
GDP Growth Rate YoY - 2 Est  Q1


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.50 0.70 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.70 2.60 9.80 -5.80 percent [+]
GDP Constant Prices 428347.00 426382.00 428347.00 102335.00 GBP Million [+]
Gross National Product 438428.00 437062.00 438428.00 4776.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 72626.00 73016.00 75836.00 13015.00 GBP Million [+]
GDP per capita PPP 35013.27 34657.81 37112.75 23542.10 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Aug/14 -0.90 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.30 Nov/14 7.30 14.20 3.80 percent [+]
Euro Area 0.90 Nov/14 0.80 5.00 -5.50 percent [+]
France 0.22 Nov/14 0.41 12.50 -3.92 percent [+]
Germany 1.60 Nov/14 1.20 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 5.01 Nov/14 4.92 7.16 1.56 percent [+]
Italy -0.30 Nov/14 -0.40 10.30 -6.90 percent [+]
Japan -0.50 Nov/14 -1.40 9.40 -9.40 percent [+]
Mexico 2.60 Nov/14 2.20 8.50 -8.10 percent [+]
Netherlands 1.00 Nov/14 1.00 5.80 -4.40 percent [+]
Russia 0.70 Aug/14 0.80 12.10 -11.20 percent [+]
South Korea 2.70 Nov/14 3.20 18.20 -7.30 percent [+]
Spain 2.00 Nov/14 1.60 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 1.70 Aug/14 2.20 12.60 -14.70 percent [+]
United Kingdom 2.70 Nov/14 2.60 9.80 -5.80 percent [+]
United States 2.40 Nov/14 2.70 13.40 -4.10 percent [+]